LAYER 2’S EVERYWHERE: In final week’s The Protocol, we devoted a not-inconsiderable amount of ink to the fast-growing record of latest “layer 2” blockchains aiming to supply a venue for quick and speedy transactions atop Ethereum. Seize one other nicely, trigger there’s been a lot extra bulletins already this week. Essentially the most notable was inarguably Tuesday’s disclosure by the crypto trade OKX that it plans to construct a layer 2 utilizing Polygon’s expertise. Wednesday introduced the information of Kinto, which has raised $5 million this 12 months to develop a layer-2 community that is absolutely compliant with anti-money-laundering legal guidelines utilizing Optimism’s OP Stack, and Redstone, an “different knowledge availability” chain designed by the Lattice crew for OP Stack. There are nagging questions on simply who’s going to make use of all these networks, however builders counsel there’s nonetheless not sufficient. “We’ll want a number of L2s,” Ryan Wyatt, who was simply employed by a unit of the Optimism Basis as chief development officer after leaving Polygon Labs a number of months in the past, advised CoinDesk TV this week. “One chain, a mainnet, is just not going to do it.” Even Cardano founder Charles Hoskinson tried to elbow into the combo, posting Sunday on X (previously Twitter) that “I am sport in case you are” – attaching a hyperlink to CoinDesk’s article final week about Kraken’s discussions with potential layer-2 expertise companions together with Polygon, Matter Labs and Nil Basis – and tagging Kraken Chairman Jesse Powell. One snarky poster replied, “If that is how we reaching out, more than likely not occurring.”
